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marketing ch10 - Ch 10 1 Product line and product mix 255 a...

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Ch 10 1. Product line and product mix 255 – a group of products that are closely related because they satisfy a class of needs and are sold to the same customer group. 2. Classifying products 253-256 a. Type of use i. Consumer b2c – classification Fig 10-1. If we know how to categorize and product then we know how to market the product. The categorization is generated by the purchase behavior of consumers. 1. Convenience - pricing needs to be low. Place needs to be widespread, many outlets. Ex. Toothpaste, gum, etc. (Price and Place) 2. Shopping – in between specialty and convenience 3. Specialty – Price is expected to be expensive so price insensitive, distribution is limited to increase its value, and promotion needs to be unique. Extremely brand loyal (Place and promotion) 4. Unsought – People really don’t want the product. Product awareness is essential Ex. Life insurance. ii. Business b2b b. Degree of tangibility i. Nondurable ii. Durables iii. Services 3. What is a new product? 258 Marketing definition – a degree of newness has
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